Soil salinization is a serious issue in the Qaidam Basin and significantly limits economic development. To explore the salt tolerance of two shrubs in this area, we determined several parameters, including the Soil and Plant Analyzer Development (SPAD), net photosynthetic rate (Pn), transpiration rate (Tr), intercellular carbon dioxide (Ci, μmol mol−1), stomatal conductance (Gs, umol m−2s−1), and water use efficiency (WUE) under different salt concentrations (0, 100, 200, 300, and 400 mmol·L−1). In addition, the shrubs of Elaeagnus angustifolia and Lycium barbarum of salt tolerance were evaluated. The photosynthetic parameters of E. angustifolia were more sensitive to salinity than those of L. barbarum, and SPAD, Pn, Tr, and WUE of E. angustifolia decreased significantly with increasing salt concentrations (P < 0.05), while in L. barbarum, SPAD, Pn, and Tr decreased significantly with increasing salt concentrations (P < 0.05), but the WUE of L. barbarum showed no significantly variation under the salt concentration gradient. The results of correlation matrix of photosynthetic index also indicated that the minimum salt tolerance of E. angustifolia and L. barbarum were 108.4 and 246.3 mmol·L−1, respectively. Our results provide a scientific basis for the selection of salt-tolerant plant species in of northwest China.